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I. Identify whether the following items are subject to VAT (T) or not (NT).
1. Sale of Lechon Manok (roasted chicken)
2. Sale of coconut.
3. Sale of smoked fish (Tinapa).
4. Sale of boneless Bangus.
5. Importation of grapes sale.
6. Importation of frozen meat for sale.
7. Sale of shells and coral products by a dealer.
8. Export sale by VAT-registered person.
9. Export sale by persons who are not VAT-registered.
10. Lease of residential units with a monthly rental of 10,000 per unit but with an aggregate annual
gross rentals of P2M.
11. Lease of residential units with a monthly rental of P15,000 per unit but with an aggregate annual
gross rentals of P2.0M.
12. Lease of commercial units with a monthly rental of P10,000 per unit but with aggregate annual
gross rentals of P2.0M.
13. Tuition fees of private university.
14. Tuition fees of review school.
15. Sale of books by bookstore.
16. Importation of machineries and equipment.
17. Sale of drugs and medicine in a hospitals pharmacy.
18. Painting sold by art gallery.
19. Importation of bamboo poles.
20. Importation of special feeds for race horses.
21. Professional fees of CPA’s/Lawyers.
22. Income earned by banks.
23. Hospital services.
24. Pawnshops.
25. Sales of newspapers.
26. Sales of deboned meat.
27. Sale of salted egg.
28. Keeper of garage owner/operator.
29. Parking lot operator.
30. Massage parlors.

II. Multiple Choices: Choose the best possible answer.

1. An importer wishes to withdraw its importation from the Bureau of Customs. The imported goods
were subjected to 10% customs duty in the amount of P24,000 and other customs charges in the
amount of P10,000. The value-added tax due is:

2. The Manila BAKERS sells cakes and pastry items to well-known hotels around the Metro Manila
area. The hotels are allowed credit based on the track record of the hotels. The total sale by the
store in April 2009 was P224,000, including the VAT. 75% of the sales are normally on account.
How much is the output tax for the month of April 2009?

3. Marishka, a trader, made the following sales of goods during the month of July 2017, exclusive
of VAT:
Cash sales 200,000
Open account sales 100,000
Installment sales 100,000
Note: Receipt from installment sales is 40,000
Consignment made: (net of VAT)
June 15, 2017 100,000
April 15, 2017 100,000
March 15, 2017 100,000
Output tax is:

4. Japeth, VAT-registered, made the following purchases during the month of January, 2017:
Goods for sale, inclusive of VAT 246,400
Suppliers, exclusive of VAT 20,000
Office air conditioners, total invoice amount 56,000
Home appliances for residence, gross of VAT 17,920

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Office machine, 8 years useful life, net of VAT 2,000,000

Repair of store amounted to P20,000 evidenced by ordinary receipt of contractor. Creditable Input
taxes are:

5. A taxpayer registered under the VAT system on January 1, 2017. His records during the month
Value of inventory as of December 31, 2016 100,000
VAT paid on inventory as of December 31, 2016 5,000
Value of inventory as of December 31, 2016 purchased,
from non-VAT persons 200,000
Sales, net of VAT 140,000
Sales, gross of VAT 45,920
Purchases, net of VAT 70,000
Purchases of VAT exempt goods 50,000

VAT payable is:

6. The following are the data of City Appliances marketing Co. for the last quarter of 2017:
Sales up to December 15, Total
Invoice value 380,800
Purchases up to December 15, net
0f input taxes 150,000

*Additional information:
On December 16, 2017, the city appliances Marketing Co. retired from its business and the
inventory valued at P190,000 was taken and transferred to New City Appliances Co. there is a
deferred input tax from the third quarter of P3,500.

How much is the total value-added taxes due and payable by City Appliances Marketing Co. in its
operations in the last quarter and its retirement from business?

7. During a quarter, Popocute Corp. made sales of goods amounting to P1,000,000 plus output tax
of P120,000 for a total of P1,120,000. It also made sales of services amounting to P200,000 plus
output tax of P24,000 for a total of P224,000.

During the same quarter, it made domestic purchases of P1,000,000 for goods for sale plus input
tax of P120,000. It also hired the services of an independent contractor to repair the building
used for both lines of activities for which it paid the amount of P50,000 plus P6,000 VAT. Its
deferred input tax is P215,000 for which P200,000 is a carry-over input tax for a previous zero
rated transaction.

Popocute received a credit memorandum for purchases returned during the quarter covering
purchases made in the previous quarter amounting to P336,000, P36,000 of which adjustment to
input tax on zero rated transaction. How much is Popocute’s net creditable input tax?

8. In question no. 7, how much is the VAT payable or excess tax credit?

9. Assuming the same facts in question 8, except that the company has not filed a claim for refund
during the period for input tax on previous purchases of capital goods, how much is Popocute’s
VAT due or excess input tax?

10. Avenger Realty, the course of trade sells real property. During the month of January 2017, it
had the following data per sales document (VAT included) :

Cash sales 560,000

Sales on deferred payment basis (initial payments exceed 25% of the selling price) 336,000

The real property sold for cash had a zonal value of P600,000 (excluding VAT) and the property
sold under deferred payment basis had a fair market value of P200,000 (excluding VAT).

How much is the output on the sale of real property?

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11. Sweetie Pie Refining Company manufactures refined sugar. It had the following data during the
first quarter of 2017:
Sale of refined sugar, net of VAT P2,000,000
Purchases of sugar cane from farmers used in manufacture of refined sugar 500,000
Purchase of packaging materials, gross of VAT 784,000
Purchase of labels, gross of VAT 112,000
The VAT payable is:

12. MMM, building contractor showed to you the following data:

Contract price 5,000,000
Cash received (VAT included) 2,200,000
Receivables 3,000,000
Advances on other contacts still unearned (w/o VAT) 1,000,000

Payments: (VAT excluded):

For materials 500,000
For suppliers 100,000
For operating expenses 200,000
For services of sub-contractors(VAT included) 1,848,000

***Required: Compute the value added tax payable

13. A VAT-registered person has the following data:

Export sales, 3,000,000
Domestic sales, total invoice amount 6,720,000
Purchase of raw materials, used to manufacture goods
for export and domestic sales, VAT inclusive 616,000
Suppliers used for both export and domestic sales, VAT inclusive 448,000
Purchase of equipment used in the manufacture of goods
for export and domestic sale, VAT exclusive 300,000

The amount of input tax which can be refunded or converted into tax credit certificates at the
option of the VAT-registered person is:

14. Based on #13, if the refundable input taxes were not refunded but used as tax credit, the VAT
due is:

15. But assuming further that the tax payer opted to claim them as refund, the VAT due is:

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